Core Points - The central bank of China has adjusted the RMB to USD exchange rate, increasing it by 33 basis points to 7.0833 [1] Exchange Rate Summary - The exchange rate for 1 USD is set at 7.0833 CNY, while 1 EUR is at 8.2152 CNY, and 100 JPY is at 4.6035 CNY [2] - Other notable exchange rates include 1 HKD at 0.91139 CNY, 1 GBP at 9.3273 CNY, and 1 AUD at 4.6321 CNY [2] - The exchange rates for various currencies against the RMB also include 1 NZD at 4.0139 CNY, 1 SGD at 5.4528 CNY, and 1 CHF at 8.8590 CNY [2]

Core Points - The central bank of China has lowered the RMB to USD midpoint rate by 10 basis points, now at 7.0866 [1] - The People's Bank of China has authorized the foreign exchange trading center to publish the exchange rates for various currencies against the RMB, indicating a comprehensive update on the currency's performance [2] Exchange Rate Summary - 1 USD = 7.0866 RMB [2] - 1 EUR = 8.1986 RMB [2] - 100 JPY = 4.6064 RMB [2] - 1 HKD = 0.91160 RMB [2] - 1 GBP = 9.3465 RMB [2] - 1 AUD = 4.6371 RMB [2] - 1 NZD = 4.0101 RMB [2] - 1 SGD = 5.4468 RMB [2] - 1 CHF = 8.8091 RMB [2] - 1 CAD = 5.0607 RMB [2] - 1 MOP = 1.1307 RMB [2] - 1 MYR = 0.58597 RMB [2] - 1 RUB = 11.4209 RMB [2] - 1 ZAR = 2.4187 RMB [2] - 1 KRW = 205.22 RMB [2] - 1 AED = 0.51741 RMB [2] - 1 SAR = 0.52839 RMB [2] - 1 HUF = 46.7518 RMB [2] - 1 PLN = 0.51613 RMB [2] - 1 DKK = 0.9109 RMB [2] - 1 SEK = 1.3408 RMB [2] - 1 NOK = 1.4273 RMB [2] - 1 TRY = 5.94738 RMB [2] - 1 MXN = 2.5908 RMB [2] - 1 THB = 4.5511 RMB [2]

Core Viewpoint - The foreign exchange market is experiencing fluctuations with various currencies showing mixed trends against the US dollar, while key economic indicators and central bank decisions are influencing market sentiment. Group 1: US Dollar Developments - The Trump administration plans to appeal a court ruling regarding Federal Reserve Governor Lisa Cook [2] - Federal Reserve Chair Jerome Powell's upcoming remarks on the job market may indicate future policy directions [2] - US Treasury Secretary Mnuchin stated that if President Trump views inflation as a problem, he would be open to interest rate hikes [2] - The White House's National Economic Council Director Hassett anticipates economic growth rates exceeding 3% [2] - Wells Fargo Investment Institute raised its 2025 US GDP growth forecast to 2%, up from 1.3% [2] Group 2: Non-USD Currency Movements - The euro against the US dollar reached a new high of 1.1878, the highest since September 2021 [3] - The European Central Bank (ECB) remains cautious, with Governing Council member Escrivá emphasizing the need for flexibility amid ongoing uncertainty [4] - The ECB's Vice President Guindos stated that current interest rates are appropriate [5] Group 3: Canadian and Japanese Currency Insights - The swap market indicates a 93% probability of the Bank of Canada cutting rates, up from 87% prior to the CPI release [5] - Japan's auction of 20-year government bonds saw a subscription rate of 4.00, the highest since 2020 [5] - The offshore Chinese yuan broke the 7.10 mark against the US dollar for the first time since November of the previous year [6] Group 4: Technical Analysis - The GBP/USD is currently above the 200-period SMA at approximately 1.3480, indicating long-term bullish dominance [8] - The USD/JPY is fluctuating between the Bollinger Bands' middle and lower bands, with potential for a short-term bullish reversal if it breaks above the middle band [9] - The EUR/USD has a key support level at 1.1850, which may trigger buying interest if tested again [9] - The USD/CHF is currently below both the 50-period and 100-period SMAs, indicating short-term bearish momentum [9] - The AUD/USD has a significant support level at 0.6630, which could attract buying interest if approached [10] - The USD/CAD has a critical support level at 1.3680, which may also draw market attention if tested [10] Group 5: Upcoming Economic Data - Key economic data releases include US housing starts and building permits at 20:30, followed by the Bank of Canada's interest rate decision and a press conference at 21:45 [11] - The Federal Reserve's FOMC will announce its interest rate decision and economic outlook at 02:00, followed by a press conference by Chair Powell at 02:30 [11]

Core Insights - The global payment currency ranking for March shows that the US dollar remains dominant with a share of 49.08%, followed by the euro at 21.93% and the British pound at 6.64% [1][2][3] Group 1: Global Payment Currency Rankings - The top three currencies in international payments are the US dollar (49.08%), euro (21.93%), and British pound (6.64%) [2] - The Chinese yuan ranks fourth with a share of 4.13%, followed by the Japanese yen at 3.87% and the Canadian dollar at 2.82% [2][3] - The top ten currencies account for a combined share of 94.23%, indicating a high concentration in international payment currencies [3] Group 2: Cross-Border Trade Payment Rankings - In cross-border trade payments, the US dollar holds a market share of 81.08%, with the Chinese yuan at 7.38% and the euro at 6.23% [4] - The top three currencies in this category account for 94.69%, showcasing an even more pronounced concentration effect compared to overall international payments [4] Group 3: Future Outlook for the Chinese Yuan - The Chinese yuan's market share in global cross-border trade finance has surpassed 7% for the first time, with expectations to reach 10% within one to two years [5] - The potential impact of US trade policies under Trump on the yuan's market share is highlighted, suggesting that these policies could either hinder or facilitate the yuan's growth [5][6] Group 4: Implications of US Trade Policies - Trump's trade policies, including high tariffs, are seen as potentially undermining the dollar's foundational role in global trade [6][9] - The expectation is that countries may be pressured to reduce their reliance on the dollar, which could lead to a decrease in its market share [6][10] Group 5: Economic Dynamics of Currency Production - The cost of producing currency is significantly lower than that of manufacturing goods, leading to a high profit margin for currency creation [12] - The dynamics of currency production versus goods manufacturing suggest that the US may face challenges in maintaining dollar dominance if it restricts dollar outflows [12][14]